Property investment and management company CEG has secured 10 new tenants to its multi-million speculative Vesuvius development in Worksop.
The new tenants include gym and fitness training company Crossfit Worksop and Endeavour Martial Arts, as well as retailers such as Kitchen Craft, Escape Hot Tubs and Rother Valley Optics.
It has also become a hub for auto companies from Just Tyres, DV Autos Ltd, Epic Detail and electric vehicle charging specialist Powerpoint to Shark Eye’s research and design centre.
Burger King has taken the first of three flexible food and beverage units at the site.
The largest speculative development of this scale and quality in Worksop, 16 light industrial units offer flexible space from 1,200 to 5,000 sq ft. Only five units remain available, with two under offer. CEG is also set to deliver subsequent phases offering larger employment units including design and build development.
Lawrence Escott, investment manager from CEG, said: “The development has proved incredibly successful. We only completed in August and already have ten new tenants in occupation and strong interest in the remaining five units.
“Construction is also underway with the new Nottinghamshire Fire and Rescue Station and a Travis Perkins. With such a shortage of supply of well located, flexible accommodation, we expect to announce more deals imminently.”
In 2019, supported by D2N2 Local Enterprise Partnership (LEP), CEG delivered a £5.5million package of works to create a new roundabout and access road opening up the site and making it easily accessible to the A60, A57, Worksop and its surrounds. As part of this work, the land was remediated to pave the way for redevelopment.
D2N2 LEP Interim CEO, Will Morlidge, said: “It’s great to see this transformational project moving from strength to strength with ten new tenants. The regeneration of the former Vesuvius Brickworks into a thriving retail and business park is a landmark development for Worksop and the wider area, creating new jobs and supporting our collective ambitions to rebuild and grow our economy.”
Ultimately, the 425,000 sq ft of industrial development at the site will help to address identified latent and future demand for space. The comprehensive development of the site is expected to create almost 1,000 new jobs and contribute £23 million p.a. in GVA. Wider local benefits include apprenticeships, training and skills development and inward investment opportunities.
